Another article from Chase Characterizes the Real Estate Market

While we are viewing the real estate market very optimistically right now, there are a few bumps in the road as we approach the spring selling season in Indianapolis.  As the article posted just before this one states, there is strong demand on the part of buyers and interest rates for mortgages are extremely low. Buyers looking in Meridian Kessler, Broad Ripple, Butler Tarkington, Washington Township,  Carmel and downtown are having a hard time finding “just the right house”, as inventory is very low.  If you see a home of interest, please call Kate or I immediately to see the home-it may not last for long.  317 506-7853 (Kate), or 317 253-7770 (Mike)

 

Home Prices Increase Moderately, Affected by Inventory and Appraisals
Home prices on non-distressed properties have increased moderately during the past eight months, with low inventory driving increases and tight appraisals keeping home prices in check. According to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, non-distressed home prices hit $271,000 nationally in December, based on the three-month moving average. The prices have been trending upward since falling to $253,000 in April 2012. Limited inventory of non-distressed properties has contributed to the increases, while some agents report that appraisals are coming in lower than listing and offering prices. “The market is trying to recover value,” said an agent in Michigan, “but tight appraiser guidelines are not keeping up with the agreed sales prices between buyers and sellers.”
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